SAP "outperform," target price raised

05.09.07 - Credit Suisse

LONDON, September 5 (newratings.com) - Analyst JC Clark of Credit Suisse maintains his "outperform" rating on SAP AG (SAP). The target price has been raised from ?45.00 to ?46.50.

In a research note published this morning, the analyst mentions that the company?s core business is progressing well, with existing core ERP customers witnessing an upgrade cycle. This cycle has not even begun fully and is less than 17% completed, the analyst says. Checks indicate that the recent turmoil in the credit market and the softening consumer conditions in the US have not impacted the company, Credit Suisse adds.